£1 billion deal to transform London’s Royal Docks Enterprise Zone

The Mayor, Boris Johnson, today announced details of a £1 billion deal to transform London’s docklands into the capital’s next business district, forging new trade links with China and other economies in the Asia-Pacific region and securing billions of pounds of inward investment in the UK economy.

Royal Albert Dock is a 35-acre site situated in the heart of Royal Docks Enterprise Zone. It will be developed by ABP Chinese (Holding), a successful commercial developer, into a gateway for Asian and Chinese business seeking to establish headquarters in Europe as well as other businesses wanting to set up in the capital.

When complete, the Zone will have some of the best transport links in the capital, with direct access to central and western London via the new Crossrail station coming in 2018. It also benefits from close proximity to the University of East London and City Airport, providing direct links to Europe’s key business destinations.

Chairman of ABP, Mr Xu, said:

“I am very pleased and very proud that my company ABP has reached this agreement for the Royal Albert Dock with the Greater London Authority. This project will be hugely significant for both the Chinese and UK economies. My vision is to develop a world class international business district which will initially target Asian businesses to help them secure a destination in London, which in China is seen as the gateway to both the United Kingdom and the wider European economy. Our plans aim to strengthen trade between east and west, provide new local jobs and deliver benefits for the wider London and UK economy.”

Communities Secretary Eric Pickles said:

“Enterprise Zones are creating new local jobs and stimulating business ventures through significant tax incentives, simplified planning and super fast broadband that will support our economy.

“This is a significant investment deal for London and will boost employment and growth in the capital. I am delighted that the benefits of Enterprise Zone status are attracting foreign investment to the country and strengthening our trade relations with major international players like China.”